Not sure what to do.............

jillski_2

Can anyone offer advice please? I have a credit card debt to MBNA of nearly £3,500 and I have been late with a couple of payments in the past. This seemed to affect my credit rating (which was always unblemished!) as when I tried to move the debt to a no interest offer with Virgin they refused. Since then, and with the extra fees/interest for late payments coupled with the fact that my income has gone down due to tax credit overpayments which are being deducted I am now struggling to pay. The final straw was a statement yesterday saying that I need to pay £96 immediately which I cant do. I do notice however that in the meantime they have upped my credit limit £500 - this must be to cover all the charges they are making. At this rate I'll never clear the debt it will just grow. What is my best course of action - is it worth phoning them to say I have problems paying?

Al_Mac

Virgin and MBNA are the same, so could be worth trying another company.

I beleive MBNA are !!!!!!, but it is worth giving them a call.

Take a look at the credit card articles. Do a search on life of balance, might be useful.

I'm sure sure clever person will post links.

Good luck.

:beer:

jillski_2

Thanks for that. Also think MBNA are !!!!!!.

morveryn

Just to add, I also think MBNA are !!!!!!!

frosty

we have just got an M&S more card,applied on line,they wanted very little information,and we received the card in less than a week,very surprised as the post office turned us down when we applied on line for their card,M&S is 0% for 6 months.
I hate MBNA aswell cant wait to get them paid off.

in*the*red_6

I'm pretty sure this has happened because you effectively apply to the same company for a BT and they turn you down, then you think your credit rating must be bad and keep paying their high interest. This is exactly what happened to me and I've only just realised it. I did the same in reverse - tried to transfer a Virgin card onto MBNA marbles and they turned us down with the reason that we were 'overcommitted'. I'm kicking myself now for not realising what I'd done and I ended up paying mountains of interest to Virgin (MBNA) because I was scared to apply for another card! Try again with another company as we've just been accepted for 4.9 LOB transfer with BA Amex.

jillski_2

Thanks for your advice - will certainly try another card now - was scared to apply as didn't want to be turned down by other companies and risk problems with rating.

Little_Miss_Winner

We have just been accepted by Halifax - 12 months balance transfer - 0%, have a look at their website.

jillski_2

Thanks! Sounds good - i'll have a look.